How is SBI Flexi Deposit different from a Recurring Deposit account?

Unlike a Recurring Deposit, where you must deposit a fixed amount every month, SBI FlexiDeposit lets you choose how much to deposit and when, as long as you stay within the yearly limits. This gives you more freedom to save as per your convenience.

What are the minimum and maximum deposit limits for SBI Flexi FD?

You must deposit at least â¹5,000 in a financial year, with each deposit being â¹500 or more. You can deposit multiple times throughout the year, up to a maximum of â¹50,000 in one financial year.

Who is eligible to open a Flexi FD SBI account?

Any resident Indian, including minors (with a guardian), can open this account either online or at an SBI branch.

Is TDS applicable on interest earned?

Yes, TDS is deducted as per the income tax rules. You can avoid it by submitting Form 15G or 15h, if eligible.

Can I open a Flexi FD SBI account online?

Yes, you can easily open an account through SBI Internet Banking without visiting a branch.

Flexi FD SBI - A Smart Way to Save with Flexibility

Saving money is a smart way to prepare for your future. However, different saving plans work in different ways. Some give more profit, but keep your money locked for a long time. Others let you take out money anytime, but the rate at which your savings increase might not be very fast. This explains why a large number of people seem to avoid both extremes in favour of something between, a way to save that is flexible and rewarding.

Returns as high
as 7.1%^*

Includes life cover

Completely Tax free⁺

Maximum returns Offered by Guaranteed

Highest

7.1%^*

Guaranteed Plan

(by insurance companies)

(10 Years)

6.5%^**

Fixed Deposits

(by SBI bank)

(5-10 Years)

7.1%^***

Public Provident Fund

(other popular options)

(15 Years)

Get Guaranteed returns up to 7.1%*

Fully Tax-Free* (unlike FD), Life Cover Included

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SBI Flexi FD is precisely one such option. This plan provides you with flexibility, as in a savings account, and returns as per any other fixed deposit. If you are just working your way up to saving money or planning to build wealth in the long term,Flexi FD SBI might be the right choice.

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Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund

Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund

Guaranteed Return Plans

Returns Before Tax

7.1% ^(TAX-FREE)

Returns After Tax

7.1%

Guaranteed Returns

Yes

Life Cover

Yes

Tax on Profit

Tax Free*

Risk

No Risk

Fixed Deposits

Returns Before Tax

7% ^(TAXABLE)

Returns After Tax

4.8%

Guaranteed Returns

Yes

Life Cover

Tax on Profit

Taxable

Risk

Low Risk

Debt Mutual Fund

Returns Before Tax

8% ^(TAXABLE)

Returns After Tax

5.5%

Guaranteed Returns

Life Cover

Tax on Profit

Taxable

Risk

High Risk

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*For annual premium upto ₹5 Lacs

What Is a Flexi FD SBI Fixed Deposit?

The SBI Flexi Fixed Deposit, also known as e-SBI Flexi Deposit, is a flexible savings scheme that lets individuals deposit variable amounts starting from ₹5,000 up to ₹50,000 per financial year. It offers higher interest rates like term deposits with quarterly compounding and a 5–7 year tenure. You can deposit money multiple times in a year, and it's linked to your savings/current account. Senior citizens also enjoy additional SBI FD interest rate benefits.

How Does the SBI Flexi Deposit Scheme Work?

SBI flexi fixed deposit offers a flexible form of savings, from which deposits of at least ₹500 can be made at any time. One must deposit at least an amount of ₹5,000 in any given year. The maximum investment amount is ₹50,000 in any financial year. The tenure is anywhere from 5 to 7 years, so it suits long-term objectives quite well. Most importantly, the Fixed Deposit interest rates on an SBI Flexi Fixed Deposit are quite competitive when compared to regular fixed deposits, and so you are not compromising returns for any form of flexibility.

FD interest rates India have fallen consistently over the last 12 years.

Invest in Plans that offer Guaranteed Returns for over 25 Years

Key Benefits of SBI Flexi Fixed Deposit:

₹Save on Your Terms

You’re free to deposit different amounts at different times. There’s no fixed monthly commitment, which makes it perfect for people with irregular income or shifting priorities.
Better Returns Than Savings Accounts

Because your idle funds are moved into a fixed deposit automatically, they earn higher returns. The SBI Flexi FD interest rate gives you more value for every rupee saved.
Easy Withdrawals

If you ever need money before the term ends, you can withdraw it. SBI allows premature withdrawals with a small penalty of 0.50% for deposits up to ₹5 lakh, and 1% for more.
Loan Facility

You can also take a loan of up to 90% of your deposit. So, in emergencies, your money is still helping you without needing to break the FD.
Auto-renewal for Peace of Mind

When your deposit matures, it gets renewed automatically, so your savings keep growing even if you forget to reinvest them.

How SBI Flexi Fixed Deposit Compares with Regular Fixed Deposits

Feature	Regular Fixed Deposit	Flexi FD SBI
Deposit Amount	Fixed	Flexible
Payment Schedule	One-time or periodic	Flexible
Liquidity	Low	High (partial withdrawal allowed)
Interest Rate	Fixed	Same as regular FD
Renewals	Optional	Auto-renewed

The Flexi FD SBI clearly offers more convenience, especially for people who want to build savings without a fixed deposit plan locking them in.

Who Can Open an SBI Flexi FD?

Any resident Indian, including minors (with a guardian), can open this account. You can do it:

Online, through SBI’s Internet Banking
Or offline by visiting any SBI branch

All you need is a basic savings account with SBI and standard KYC documents like Aadhaar, PAN, and proof of address.

Online and Offline Options to Open an SBI Flexi Fixed Deposit

Opening Online:
- Log in to SBI Internet Banking.
- Go to the “e-Fixed Deposit” section.
- Select “Flexi Deposit”.
- Enter the amount and choose the term.
- Confirm to open the account.
Opening Offline:
- Visit your nearest SBI branch.
- Fill out the Flexi Deposit form.
- Submit your documents and make your first deposit.

Once opened, your deposits will start earning the current SBI Flexi FD interest rate from day one.

*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Conclusion

If you’ve been looking for a savings plan that fits into your life rather than forcing you to fit into it, the SBI Flexi Fixed Deposit is worth considering. It gives you the power to deposit when you can, withdraw when you need, and still grow your money with a dependable interest rate. With features like auto-renewal, loan access, and the flexibility to deposit anytime, Flexi FD SBI is ideal for students, professionals, homemakers, and even senior citizens. Add to that the attractive SBI Flexi FD interest rate, and you have a savings tool that’s simple, smart, and safe.

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FAQs

How is SBI Flexi Deposit different from a Recurring Deposit account?

Unlike a Recurring Deposit, where you must deposit a fixed amount every month, SBI FlexiDeposit lets you choose how much to deposit and when, as long as you stay within the yearly limits. This gives you more freedom to save as per your convenience.
What are the minimum and maximum deposit limits for SBI Flexi FD?

You must deposit at least ₹5,000 in a financial year, with each deposit being ₹500 or more. You can deposit multiple times throughout the year, up to a maximum of ₹50,000 in one financial year.
Who is eligible to open a Flexi FD SBI account?

Any resident Indian, including minors (with a guardian), can open this account either online or at an SBI branch.
Is TDS applicable on interest earned?

Yes, TDS is deducted as per the income tax rules. You can avoid it by submitting Form 15G or 15h, if eligible.
Can I open a Flexi FD SBI account online?

Yes, you can easily open an account through SBI Internet Banking without visiting a branch.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
#Discount offered by insurance company
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ ˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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